TORONTO, June 1, 2023 /PRNewswire/ – Westbridge Renewable Energy Corporation WEB WEGYF PUQ (“Westbridge“, “Westbridge Renewable” or the “Company“) is pleased to announce that it has entered into definitive agreements entered into on June 1st 2023 in connection with the purchase by Metka-EGN Ltd. (“Metka“) (a subsidiary of MYTILINEOS Energy & Metals (RIC: MYTr.AT,MYTILMYTHY (“MYTILINEOS“)) of a portfolio of 5 solar projects located in Alberta, Canada (the “Projects“), from Westbridge, with anticipated aggregate capacity of 1,410 MWdc (1.4 GW) upon commercial operation (the “Transaction“).
The Transaction is to be completed by way of a share purchase by Metka of all of the issued and outstanding shares of the following subsidiaries of Westbridge: Georgetown Solar Inc. (“Georgetown“), Sunnynook Solar Energy Inc. (“Sunnynook“), Dolcy Solar Inc. (“Dolcy“), Eastervale Solar Inc. (“Eastervale“), and Red Willow Solar Inc. (“Red Willow“), (collectively, the “SPVs“). Westbridge will retain ownership of the SPVs and continue to lead the development of the Projects until closing, which is subject to certain conditions, including regulatory approvals.
The Projects
The Projects under development by each of the SPVs are comprised of the following:
- Georgetown – Solar power plant with a capacity of up to 230MWac (278MWdc), located in Vulcan County, Alberta;
- Sunnynook – Solar power plant with a capacity of up to 280 MWac (332 MWdc), located in Special Area No. 2, Alberta;
- Dolcy – Solar power plant with a capacity of up to 200 MWac (246 MWdc), located in the municipal district of Wainwright, Alberta;
- Eastervale – Solar power plant with a capacity of up to 300 MWac (274 MWdc), located in the municipal district of Provost, Alberta; and
- Red Willow – Solar power plant with a capacity of up to 225 MWac (280 MWdc), located in Stettler County No. 6, Alberta.
It is anticipated that upon entering into operation, the Projects will:
- Generate 2.1 terawatt-hours (TWh) per year of…
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